Many of us in the West Coast are quite familiar with GM Place’s giant overhead screens. For that we’ve probably all seen the sponsors’ ads when we’re cheering on the Canucks.

Not unlike these mega corporations with deep pockets, many of our clients choose to donate their products or services to various charities or events as well, but how should one evaluate these opportunities? There are a few considerations:

1. What are your communications objectives? This can be as simple as getting  your company name out, or as complicated as shaping public perception. Will the specific event help communicate YOUR objective?

2. Does the audience match your business’ target market? Red Bull sponsors extreme sports; Rolex sponsors yacht races. What is the demographic you are trying to reach. Can you find them at the specific event you’re considering to sponsor?

3. What is the risk level of the event to your business? What if someone got injured at the event and there’s bad publicity? How does that impact your brand? This is why we hear about the dropping of sponsors when certain high profile athlete cheated on his wife, 16 times.

4. Are there promotional opportunities at these events? It can be a booth at the venue devoted to your company, the opportunity for you to present the speaker of the day, or the number of times your company logo appears in the print and tv.

5. What is your cost v.s. your return? This can be an actual dollar figure, or an intangible benefit. The bottom line is to know the value and benefits going into a sponsorship.

Finally, the cause should be something that speaks to your company’s or personal value and belief.